Curtis Jackson, better known to the rest of us as rapper 50 Cent, has been enduring an ongoing battle with creditors due to his recent bankruptcy filing. The business mogul dodged a bullet by reaching a deal with his creditors on Wednesday.

Holley Claiborn, an attorney for the U.S. Trustee's Office, called on the judge to appoint an examiner to determine if 50 Cent, whose name is Curtis Jackson III, is fully reporting his assets and income in his bankruptcy case. The rapper's lawyers and his creditors' attorneys opposed Claiborn's request. "If debtors are not held accountable ... then we don't have any public confidence in the system," Claiborn told Judge Ann Nevins in Hartford

The rapper’s lawyers said that a successful social media account with many followers allowed 50 Cent to promote his products and book more concerts and roles in movies and television shows. That would mean, they said, more cash to pay back his creditors.

James Berman, one of 50 Cent’s lawyers, said that while Mr. Jackson has “significant earnings” he doesn’t live “a lavish lifestyle.” His lawyers also called the social media posts “self-deprecating humor,” and better understood by a younger, under-35 audience. NYTimes.com has the full story. Check it out below.

Read Full Article

 

222